This module allows you to analyze existing cross correlation between LiveCoin Adzcoin USD and Bitfinex NEO USD. You can compare the effects of market volatilities on LiveCoin Adzcoin and Bitfinex NEO and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in LiveCoin Adzcoin with a short position of Bitfinex NEO. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin Adzcoin and Bitfinex NEO.

LiveCoin

Adzcoin on LiveCoin in USD

0.07899

0.00498

6.73%

Market Cap: 149

Bitfinex

NEO on Bitfinex in USD

130.91

5.08

3.74%

Market Cap: 1.5 B

Performance (%)

Timeline

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Adzcoin USD is expected to generate 3.36 times more return on investment than Bitfinex NEO. However, LiveCoin Adzcoin is 3.36 times more volatile than Bitfinex NEO USD. It trades about 0.07 of its potential returns per unit of risk. Bitfinex NEO USD is currently generating about 0.02 per unit of risk. If you would invest 10.65 in LiveCoin Adzcoin USD on January 18, 2018 and sell it today you would lose (2.75) from holding LiveCoin Adzcoin USD or give up 25.83% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Adzcoin and Bitfinex NEO

0.79

Parameters

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Adzcoin USD and Bitfinex NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex NEO USD and LiveCoin Adzcoin is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on LiveCoin Adzcoin USD are associated (or correlated) with Bitfinex NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex NEO USD has no effect on the direction of LiveCoin Adzcoin i.e. LiveCoin Adzcoin and Bitfinex NEO go up and down completely randomly.